Financial instruments, particularly time certificates of deposit (CD) issued by financial institutions, such as banks, credit unions, and so forth, in the form of a contract between the depositor and the financial institution typically pay a fixed interest rate on a deposit for a fixed period of time after which redemption may occur without penalty. Such financial instruments (e.g. CDs) are typically not callable by the bank but are redeemable by the depositor before maturity, subject to an early withdrawal penalty. Moreover, in the United States, such financial instruments are required by the Truth in Savings Regulation DD to state, at the time of account opening, the penalty for early withdrawal. These penalties are commonly based on a number of months of interest, a percentage of the total interest that would accrue over the life of the deposit, a percentage of the remaining interest that would accrue for the remaining life of the deposit, or an economic recovery calculation that is based on the additional cost the financial institution would incur to replace the financial instrument (e.g., CD) at the current market rates of interest for the remaining period.